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Mumbai-based Valecha Infrastructure Ltd will sell its three road PPP projects to New Generation Infrastructure Inc., a subsidiary of New Generation Holdings Inc., a US-based infrastructure and energy firm.

Valecha will be selling the three projects located in Madhya Pradesh and Gujarat and executed under the 'build, operate and transfer' (BOT) model, for about Rs. 3,090 million (around $50 million), the company said in an stock exchange filing on Monday.